DSV has raised EUR5 billion (US$5.5 billion) through a share sale to help finance its EUR14.3 billion acquisition of DB Schenker.
The 'oversubscribed' offering was made to institutional investors in Denmark and internationally at market price and without pre-emption rights to DSV's existing shareholders, reports London's Air Cargo News.
'The proceeds from the offering will be used to partly finance the expected acquisition of Schenker AG from Deutsche Bahn,' the company said in an investor update.
When dsv announced last month it had agreed to buy DB Schenker, the company said that it expected to finance the transaction through a combination of equity financing of around EUR4-5 billion via 'an accelerated bookbuilding without pre-emption rights for existing shareholders' and debt financing.
BNP Paribas, Danske Bank, HSBC, JP Morgan and Nordea were joint global coordinators and joint bookrunners in the share issue.
Last week the Deutsche Bahn supervisory board approved the sale of DB Schenker to DSV at an extraordinary meeting.
The federal government has also granted the approval required for the transaction under the Federal Budget Code (BHO).
The sale will create the world's largest freight forwarder in terms of both air volumes and revenues and is expected to be completed next year once all regulatory approvals have been obtained.
SeaNews Turkey
The 'oversubscribed' offering was made to institutional investors in Denmark and internationally at market price and without pre-emption rights to DSV's existing shareholders, reports London's Air Cargo News.
'The proceeds from the offering will be used to partly finance the expected acquisition of Schenker AG from Deutsche Bahn,' the company said in an investor update.
When dsv announced last month it had agreed to buy DB Schenker, the company said that it expected to finance the transaction through a combination of equity financing of around EUR4-5 billion via 'an accelerated bookbuilding without pre-emption rights for existing shareholders' and debt financing.
BNP Paribas, Danske Bank, HSBC, JP Morgan and Nordea were joint global coordinators and joint bookrunners in the share issue.
Last week the Deutsche Bahn supervisory board approved the sale of DB Schenker to DSV at an extraordinary meeting.
The federal government has also granted the approval required for the transaction under the Federal Budget Code (BHO).
The sale will create the world's largest freight forwarder in terms of both air volumes and revenues and is expected to be completed next year once all regulatory approvals have been obtained.
SeaNews Turkey